Press Release

Quantum Cryptography Market to Grow at 23% CAGR in Middle East & Africa till 2023

Increasing incidences of data theft and cyberattacks coupled with growing implementation of cloud storage and IoT solutions is resulting in rising need to safeguard crucial data, which would drive Middle East & Africa quantum cryptography market through 2023

According to TechSci Research report, Middle East & Africa Quantum Cryptography Market By Component, By Application, By End-User, By Country, Competition Forecast & Opportunities, 2013-2023”, the quantum cryptography market in the Middle East & Africa is forecast to grow at a CAGR of more than 23% during 2018 - 2023. Quantum computing is on the verge of realization and companies such as IBM and Google are working on bringing quantum computing to the consumer domain. It is anticipated that quantum computers can break classical encryption with ease, owing to which quantum cryptography market is generating demand and playing a pivotal role in cybersecurity.

Browse 27 Figures spread through 54 Pages and an in-depth TOC on "Middle East & Africa Quantum Cryptography Market"

Key factors that are expected to drive the quantum cryptography market in the Middle East & Africa are growing number of data theft cases and cyberattacks, booming IoT industry, which is leading to huge data generation by consumer devices and machines and increasing data security concerns among enterprises and government organizations across the region. By end users, the market is segmented into IT & Telecom, BFSI, government & defense and other sectors. Of these end users, IT & Telecom dominated the market in 2017 and is likely to account for the largest share in the market over the coming years as well, as this sector majorly deals in data transmission and storage, which in turn drives the adoption of quantum cryptography.   

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 “Quantum cryptography market in the Middle East & Africa region is anticipated to register strong growth during the forecast period, owing to increasing spending on IoT infrastructure and related services. As the number of IoT edge devices increases, each device becomes a potential gateway into the network. Quantum encryption can bolster cybersecurity and prevent hazardous cyberattacks. The aforementioned factors are expected to positively influence the region’s quantum cryptography market over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Middle East & Africa Quantum Cryptography Market By Component, By Application, By End-User, By Country, Competition Forecast & Opportunities, 2013-2023” has evaluated the future growth potential of the quantum cryptography market and has also provided the statistics and information on market structure, size, share and future growth of quantum cryptography market. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities existing in the market.


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